[ad_1]
[1/2] Signage is seen for the FCA (Financial Conduct Authority), the UK’s financial regulatory body, at their head offices in London, Britain March 10, 2022. REUTERS/Toby Melville
June 19 (Reuters) – Britain’s Financial Conduct Authority (FCA) has restricted the movement of cash and assets from Odey Asset Management to restore order at the firm after the removal of founder Crispin Odey, the Financial Times reported.
The markets regulator will publish details of voluntary restrictions agreed with Odey Asset Management on Monday, the FT reported on Sunday.
The FCA and Odey Asset Management declined to comment on the report when contacted by Reuters.
The hedge fund has been grappling with investor flight since the FT and Tortoise Media on June 8 jointly reported allegations by 13 women that Crispin Odey had sexually assaulted or harassed them over a 25-year period. Odey has denied the allegations.
Lawmakers on the Treasury Select Committee sent a letter to the FCA on Wednesday to question the regulator’s supervision of Odey Asset Management and its founder.
Odey Asset Management on Friday suspended further funds after increased investor redemption, letters posted on the fund’s website showed. It is also in advanced talks to move funds and staff to other asset managers.
Reporting by Rishabh Jaiswal in Bengaluru
Editing by Chris Reese
Our Standards: The Thomson Reuters Trust Principles.
[ad_2]
Source link